A let to buy mortgage allows you to rent out your existing property and purchase a new home.  Your income just needs to cover your new mortgage as rental income covers the existing mortgage.

There are many reasons why this may appeal, such as:

• To break the chain if having difficulty selling your property
• If you currently have a negative equity situation and would like to wait before selling
• It is a good way to start building a portfolio of properties as a smaller deposit (usually just 5%) is required than with a Buy To Let
• To retain your property if you need to relocate for a period of time

However there are some important points to consider:

• You must check with your existing lender what their policy is if you wish to let to buy, It is a requirement to inform your lender if you wish to let to buy
• The rental income must cover the existing mortgage and usually an additional percentage
• You must inform your buildings and contents insurer
• Not all lenders allow Let To Buy

If this option sounds ideal for you and you would like some more information or would like to apply please complete the enquiry form and our friendly experienced advisors will contact you shortly.